Dear Howard,
After two years with a zero COLA, you will receive a small increase in 2012. But Members of Congress from both parties say it is way too high — and that the COLA needs to be permanently reduced.
After a little over 30 years, they suddenly want to CHANGE the way your COLA is calculated and begin using something the economists call a "chained CPI" to calculate the COLA. This will "save" the government billions of dollars in Social Security and military retirement benefits but, to you and me, it is nothing more than a cut in Social Security benefits.
If the chained CPI had been used, the 2012 COLA would be about 20% LESS than it is! And, over a typical retirement, the average beneficiary will see their benefits reduced by over $20,000! This is an example of the kind of "back door cut" to Social Security that CAN AND WILL happen as President Obama and the special House/Senate Debt Reduction "Super Committee" look for ways to cut the deficit in the coming months.
Now, finally, we have legislation before Congress that could put the promises you received in writing and protect against these kinds of cuts! If we can pass this bill, your Social Security benefits will be guaranteed, in writing, and you will receive a certificate GUARANTEEING they will be paid.
Friday, December 30, 2011
Saturday, November 5, 2011
MASS SENIOR ACTION LAY OFF SOCIAL SECURITY
information from MASS SENIOR ACTION LAY OFF SOCIAL SECURITY IN
SOLVING THE DEBT CRISIS
The 1983 reforms to Social Security, agreed to by Democrats and
President Reagan, designed it this way. It’s working precisely as
planned. These bonds are a sovereign obligation by one part of the
government, the Treasury, to pay an institutional investor, the Social
Security Administration, which is another part of the government. It’s
an obligation to one and an asset to another. That’s why the trust
fund is in balance and does not contribute to annual deficits.
Retirees will get their benefits, at least through 2036, unless the
Treasury defaults, which isn’t going to happen.
Howard McGowan
MaldenSenior
SOLVING THE DEBT CRISIS
The 1983 reforms to Social Security, agreed to by Democrats and
President Reagan, designed it this way. It’s working precisely as
planned. These bonds are a sovereign obligation by one part of the
government, the Treasury, to pay an institutional investor, the Social
Security Administration, which is another part of the government. It’s
an obligation to one and an asset to another. That’s why the trust
fund is in balance and does not contribute to annual deficits.
Retirees will get their benefits, at least through 2036, unless the
Treasury defaults, which isn’t going to happen.
Howard McGowan
MaldenSenior
Saturday, May 7, 2011
SCRAP T HE CAP
Poll after poll has shown that voters are willing to pay higher taxes to preserve and strengthen Social Security. But most of the gap can be closed without raising taxes on ordinary workers—just those with earnings above the taxable earnings cap of $106,800.
For example, gradually restoring the cap to again cover 90% of earnings for workers, and eliminating it altogether on employer side, would be enough to shrink the long-term deficit by 69%, while still preserving the link between these workers’ contributions and the benefits they receive.
Raising or eliminating the cap on taxable earnings is appropriate because almost all the earnings growth (and the growth in life expectancy) in recent years has been at the top.
For example, gradually restoring the cap to again cover 90% of earnings for workers, and eliminating it altogether on employer side, would be enough to shrink the long-term deficit by 69%, while still preserving the link between these workers’ contributions and the benefits they receive.
Raising or eliminating the cap on taxable earnings is appropriate because almost all the earnings growth (and the growth in life expectancy) in recent years has been at the top.
Sunday, April 10, 2011
Borrowed Social Security
Of the nearly $14.2 trillion in debt, roughly $5 trillion is money the government has borrowed from other accounts, mostly from Social Security revenues, according to federal figures. Several major policies from the past decade when Republicans controlled the White House and Congress — tax cuts, a Medicare prescription-drug benefit and wars in Iraq and Afghanistan — account for more than $3.2 trillion.
Saturday, April 9, 2011
What Motivated FDR to Push For the Social Security Act
CBS News.comCBS Evening NewsThe Early Show48 Hours Mystery60 MinutesSunday
Posted by Anthony Mason 2 comments .
0diggsdigg ShareE-mailPrintFont . "It was definitely controversial at the time." That's how historian Doris Kearns Goodwin describes President Franklin Roosevelt's battle to enact Social Security legislation in the 1930's.
We went to Goodwin, author of "No Ordinary Time: Franklin and Eleanor Roosevelt: The Home Front in World War II" for some perspective as Congress debates whether to raise the retirement age for the system, now 66, up to 69 or 70.
Goodwin says there were two motivating factors behind FDR's push for the Social Security Act. First, "there was an immediate need to do something about older people who were devastated by the depression." But more broadly "what he wanted to do was to establish a principal that somehow if people had worked all their lives, we the Americans owed them security."
Baby Boom to Bust: Time to Raise Retirement Age?
Another intention was to get older workers to retire, so younger workers could get jobs. "And it's ironic today that we're in the opposite direction in wanting older people to work longer, so that we can keep paying them."
But no one knew then how significantly life expectancy would grow. More than 53 million Americans now receive Social Security payments. "At that time, in 1930," Goodwin says, "only 6 percent of the people were over the age of 65."
When he signed the legislation in 1935, FDR understood the importance of the moment. "It seems to me," he said, "that if the Senate and the House of Representatives in this long and arduous session have done nothing more than pass this Social Security Act, the session will be regarded as historic for all time."
But Goodwin says even FDR could not have realized how Social Security would become some imprinted on the minds of the American people.
"These politicians have a lot of challenges on their hands to figure out how to deal with this sacred institution."
. -2009 November 27, 2010 4:12 PM EST
Social Security is the retirement system of the working class of the United States weather we like it or not. It has to be funded regardless of the financial drain on the Government. As long as we see it as an entitlement and not as a welfare program it will survive. But we need to revise the criteria on who is actually entitled to receive funds from it. If you have never paid into it then you should never be entitled to receive any funds from it. Thats simple enough. You should also have to be a US citizen.
Reply to this comment ...by cktirumalai November 24, 2010 8:59 AM EST
In introducing Social Security, Franklin Roosevelt had the demographic advantage that in 1930 life expectancy was such that only 6% of Americans were over 65. Even so I am sure that at the time a good many Americans thought Government "entitlement" programs of that kind, despite the misery of the Depression, a step entirely in the wrong direction, a position which has its supporters today.
But with people living longer now (and Medicare requiring more money), the proportion of workers to the retired keeps getting smaller, though not so alarmingly as in, say, Japan. It is a Gordian knot.
Candadai Tirumalai
.
Posted by Anthony Mason 2 comments .
0diggsdigg ShareE-mailPrintFont . "It was definitely controversial at the time." That's how historian Doris Kearns Goodwin describes President Franklin Roosevelt's battle to enact Social Security legislation in the 1930's.
We went to Goodwin, author of "No Ordinary Time: Franklin and Eleanor Roosevelt: The Home Front in World War II" for some perspective as Congress debates whether to raise the retirement age for the system, now 66, up to 69 or 70.
Goodwin says there were two motivating factors behind FDR's push for the Social Security Act. First, "there was an immediate need to do something about older people who were devastated by the depression." But more broadly "what he wanted to do was to establish a principal that somehow if people had worked all their lives, we the Americans owed them security."
Baby Boom to Bust: Time to Raise Retirement Age?
Another intention was to get older workers to retire, so younger workers could get jobs. "And it's ironic today that we're in the opposite direction in wanting older people to work longer, so that we can keep paying them."
But no one knew then how significantly life expectancy would grow. More than 53 million Americans now receive Social Security payments. "At that time, in 1930," Goodwin says, "only 6 percent of the people were over the age of 65."
When he signed the legislation in 1935, FDR understood the importance of the moment. "It seems to me," he said, "that if the Senate and the House of Representatives in this long and arduous session have done nothing more than pass this Social Security Act, the session will be regarded as historic for all time."
But Goodwin says even FDR could not have realized how Social Security would become some imprinted on the minds of the American people.
"These politicians have a lot of challenges on their hands to figure out how to deal with this sacred institution."
. -2009 November 27, 2010 4:12 PM EST
Social Security is the retirement system of the working class of the United States weather we like it or not. It has to be funded regardless of the financial drain on the Government. As long as we see it as an entitlement and not as a welfare program it will survive. But we need to revise the criteria on who is actually entitled to receive funds from it. If you have never paid into it then you should never be entitled to receive any funds from it. Thats simple enough. You should also have to be a US citizen.
Reply to this comment ...by cktirumalai November 24, 2010 8:59 AM EST
In introducing Social Security, Franklin Roosevelt had the demographic advantage that in 1930 life expectancy was such that only 6% of Americans were over 65. Even so I am sure that at the time a good many Americans thought Government "entitlement" programs of that kind, despite the misery of the Depression, a step entirely in the wrong direction, a position which has its supporters today.
But with people living longer now (and Medicare requiring more money), the proportion of workers to the retired keeps getting smaller, though not so alarmingly as in, say, Japan. It is a Gordian knot.
Candadai Tirumalai
.
Tuesday, March 29, 2011
Social Security beneficiaries may not be seeing an increase in their paid benefits for a third year in a row.
The lack of funding will impact millions of retired and disabled people in the United States.
A slight cost-of-living adjustment (COLA) is being projected by the government for Social Security benefits next year for the first time since 2009. However, rising Medicare costs will cancel out any increase in payments.
About 45 million people, or one in seven in the nation, receive both Medicare and Social Security. By law, beneficiaries have their Medicare Part B premiums, which cover doctor visits, deducted from their Social Security payments each month.
When Medicare premiums increase more than Social Security payments, millions living on fixed incomes don't get raises. However, they don�t get pay cuts either, because a provision prevents higher Part B premiums from reducing Social Security payments for most people.
David Certner of AARP estimates that as many as three-fourths of beneficiaries will have their entire Social Security increase gobbled up by rising Medicare premiums next year.
"You just don't have the words to say how much this impacts a person," said Joyce Trebilcock, a retired legal secretary.
Trebilcock, 65, said Social Security is her primary source of income. She receives $1,262 in Social Security payment each month, with more than $500 going to pay the mortgage.
"I've cut back on about everything I can, and I take the rest out of my savings," Trebilcock said. "Thank God I've got that. That's going to run out before long, at the rate I'm going. ... I have no idea what I'm going to do then."
Social Security recipients spend, on average, 9 percent of their benefits on Medicare Part B premiums, plus 3 percent on premiums for the Medicare prescription drug program.
"We could very well be entering a period where we're all stuck with flat benefits because of the growth in health care costs," said Mary Johnson, a policy analyst at The Senior Citizens League.
Social Security COLAs are determined each year by a government measure of inflation. When consumer prices go up, payments go up. When consumer prices fall, payments stay fixed until prices recover. There had been a COLA every year from 1975 through 2009.
Medicare Part B premiums must be set each year to cover 25 percent of program costs. They have remained at 2009 levels for about 75 percent of beneficiaries because there was no increase in Social Security. The 2009 premium levels, which are still paid by about three-fourths of beneficiaries, are $96.40 a month.
"That little raise helps us," said Estelle Jones, 66, of St. Paul, Minn. "Food, heating bills, water bill, all that stuff has gone up. ... All my medicines are very expensive, and every month I have to figure out how I am going to pay for them.
A slight cost-of-living adjustment (COLA) is being projected by the government for Social Security benefits next year for the first time since 2009. However, rising Medicare costs will cancel out any increase in payments.
About 45 million people, or one in seven in the nation, receive both Medicare and Social Security. By law, beneficiaries have their Medicare Part B premiums, which cover doctor visits, deducted from their Social Security payments each month.
When Medicare premiums increase more than Social Security payments, millions living on fixed incomes don't get raises. However, they don�t get pay cuts either, because a provision prevents higher Part B premiums from reducing Social Security payments for most people.
David Certner of AARP estimates that as many as three-fourths of beneficiaries will have their entire Social Security increase gobbled up by rising Medicare premiums next year.
"You just don't have the words to say how much this impacts a person," said Joyce Trebilcock, a retired legal secretary.
Trebilcock, 65, said Social Security is her primary source of income. She receives $1,262 in Social Security payment each month, with more than $500 going to pay the mortgage.
"I've cut back on about everything I can, and I take the rest out of my savings," Trebilcock said. "Thank God I've got that. That's going to run out before long, at the rate I'm going. ... I have no idea what I'm going to do then."
Social Security recipients spend, on average, 9 percent of their benefits on Medicare Part B premiums, plus 3 percent on premiums for the Medicare prescription drug program.
"We could very well be entering a period where we're all stuck with flat benefits because of the growth in health care costs," said Mary Johnson, a policy analyst at The Senior Citizens League.
Social Security COLAs are determined each year by a government measure of inflation. When consumer prices go up, payments go up. When consumer prices fall, payments stay fixed until prices recover. There had been a COLA every year from 1975 through 2009.
Medicare Part B premiums must be set each year to cover 25 percent of program costs. They have remained at 2009 levels for about 75 percent of beneficiaries because there was no increase in Social Security. The 2009 premium levels, which are still paid by about three-fourths of beneficiaries, are $96.40 a month.
"That little raise helps us," said Estelle Jones, 66, of St. Paul, Minn. "Food, heating bills, water bill, all that stuff has gone up. ... All my medicines are very expensive, and every month I have to figure out how I am going to pay for them.
Sunday, February 27, 2011
Questions on social security
Top 25 Social Security Questions
Confused about when to claim or whether you're eligible for benefits? We have answers
by: Stan Hinden | from: AARP Bulletin | December 1, 2010
EnlargePrintComments (359)ShareRecommend (192) En español | Here are the most frequently asked questions about Social Security that AARP has received from you.
1. I am about to turn 62 and plan to file for Social Security. How do I get started?
You should apply three months before you want to start collecting. Sign up online or call 1-800-772-1213. Here are some documents you may have to produce: your Social Security card or a record of the number; your birth certificate; proof of U.S. citizenship or lawful alien status; military discharge papers if you served before 1968; and last year's W-2 tax form or tax return if you're self-employed.
•Social Security: It's not just for the retired. Read
•Social Security benefits for a former spouse. Read
•10 things You should know about Social Security. Read
•Send your questions to the Social Security mailbox. Do
2. How is my Social Security benefit calculated?
Benefits are based on the amount of money you earned during your lifetime – with an emphasis on the 35 years in which you earned the most. Plus, lower-paid workers get a bigger percentage of their preretirement income than higher-paid workers. In 2010, the average monthly benefit for retirees is $1,172.
3. If I remarry, can I still collect Social Security benefits based on my deceased first husband's record?
You can — subject to several rules. In general, you cannot receive survivor benefits if you remarry before age 60 unless that marriage ends, too, whether by annulment, divorce or death of your new husband. If you remarry after age 60 (50 if disabled), you can still collect benefits on your former spouse's record. After you reach 62, you may get retirement benefits on the record of your new spouse if they are higher.
4. Why won't retirees get a cost-of-living adjustment for 2011? Many of us count on this for food, medicine and other bills.
COLAs are based on the consumer price index, which tracks inflation. Because inflation has been flat, according to the CPI, there will be no benefit increase — for the second year in a row. AARP is calling on Congress to provide beneficiaries with financial relief.
5. I am 56 and receive Social Security disability benefits. At what point will I switch to regular Social Security? Will the monthly amount change?
When you reach full retirement age, your disability benefits will automatically convert to retirement benefits. The amount will remain the same.
What if someone dies before they've applied for benefits?>>
6. My friend died at 66. She worked full time and had not applied for benefits. What happens to the money she contributed to Social Security? Can her children claim benefits?
The money people contribute goes into a fund from which benefits are paid to eligible workers and their families. These include a widower, a surviving divorced husband, dependent parents, disabled children, and children if they have not aged out.
7. My husband and I are getting a divorce. He wants the settlement agreement to say I will not get his Social Security benefits. Can he do that?
No, he has no control over your future benefits. You can qualify for a divorced spouse's benefits if you were married at least 10 years, are now unmarried, are 62 or older, and if any benefit from your own work record would be less than the divorced spouse's benefit.
8. Cleaning out my mother's home after her death, we found Social Security checks from the 1980s. Can we cash them?
No. The checks are negotiable for only 12 months after issue.
9. My man and I have lived together for over seven years. If he dies, can I collect his Social Security benefits?
If your state recognizes your common-law marriage, then you'll likely be eligible for survivor benefits. But you'll have to provide evidence that includes sworn statements, mortgage or rent receipts, or insurance policies.
10. Do my Social Security contributions go into a personal retirement account for me and earn interest?
Although many people think so, the answer is no. Social Security operates under a pay-as-you-go system, which means that today's workers pay for current retirees and other beneficiaries. Workers pay 6.2 percent of their wages up to a cap of $106,800; employers pay the same. The money that younger people contribute will pay for our benefits when we retire.
Will the U.S. government repay the Social Security trust fund?>>
11. How much money does the U.S. government owe to the Social Security trust fund, and will it be repaid?
To prepare for the boomers' retirement, Social Security has collected more in taxes than it pays in benefits. Surplus funds go into the trust fund and are invested in U.S.-guaranteed Treasury bonds. In 2009, the trust fund held $2.5 trillion in bonds and earned 4.9 percent in interest. These bonds are just as real as U.S. Treasury bonds held by mutual funds or foreign banks. Ultimately, it's up to the American people to ensure the government keeps its promise to retirees, just as it would to other investors.
12. I have a pension from the Army. Will that affect my Social Security benefits?
It will not. You can get both your Social Security benefits and your military pension. If you served in the military before 1957, you did not pay Social Security taxes, but you will receive special credit for some of that service. Special credits also are available to people who served from 1957 to 1967 and from 1968 to 2001.
13. I didn't work enough to qualify for Social Security. My husband gets it, but he is ill and may not live much longer. Will I be able to collect benefits?
Yes, but your benefit will depend on your age and situation: If you are at full retirement age or older, you'll get 100 percent of your deceased husband's benefit. A widow or widower between 60 and full retirement age receives a reduced benefit.
14. Is it true that some people are collecting Social Security benefits who never paid into the system?
Social Security is an earned benefit. In order to collect a retirement benefit, a worker must pay into the system for at least 10 years. In some cases, nonworking family members, such as a spouse, may be eligible for benefits based on the worker's record. Tough rules in place assure that only legal residents can collect Social Security benefits.
15. I filed for Chapter 13 bankruptcy after being laid off. Do Social Security benefits count as income in bankruptcy, or are they protected?
Your benefits are protected. Social Security is excluded from the calculation of disposable income when setting up a debtor repayment plan.
What you should know about your benefits if your spouse dies. >>
16. My husband died recently. Can I choose between my own benefit and that as a widow? Can I collect both?
Eligibility for a widow's benefit begins at age 60, or 50 if you are disabled. If you are full retirement age, your survivor benefit will be 100 percent of his benefit; if you take it early, the amount will be reduced. You can switch to your own benefit as early as 62. In any event, you can only get one benefit, whichever is higher.
17. I began drawing Social Security at age 62 in 2006, but I'm still working. Since I'm still paying Social Security taxes, will my benefits increase?
If your latest work years are among your highest-earning years, the SSA refigures your benefit and pays you any increase due. This is automatic, with new benefits starting in December of the following year.
18. My wife is 62 and collects Social Security based on her own work record. Can she receive spousal benefits based on my record when I retire in a few years?
If she is eligible for both benefits, yours and hers, Social Security will pay her own benefits first. If she is due additional benefits, she will get a combination of benefits equaling the higher spousal benefit.
19. Why would changes in Social Security be considered as a way to help balance the federal budget?
Some policymakers say all spending, including Social Security, should be cut. Social Security has not contributed to the deficit. In fact, the trust fund is projected to reach $4.3 trillion by 2023. AARP believes that Social Security benefits should not be targeted to reduce the deficit.
20. If I retire to a foreign country, can I have my Social Security benefits sent there?
If you are a U.S. citizen, you may receive your benefits in most foreign countries, usually by check or direct deposit. If you are not a U.S. citizen, the answer is more complicated, with certain rules applying to certain countries. For specifics, see the Social Security publication "Your Payments While You Are Outside the United States."
Can I pay back my benefits to receive a higher payment?>>
21. I started collecting Social Security at 62. I heard that if I changed my mind, I could pay back the amount I'd collected and get a higher payment. Is that possible?
That used to be true, but the Social Security Administration just published new regulations that curtail this option. Now, if you want to suspend your benefits, you must do so within 12 months after first receiving them. According to Social Security, 85 to 90 percent of beneficiaries who withdraw their applications do so within this time frame anyway. The new rules, which became effective Dec. 8, also specify that beneficiaries are limited to one refiling in a lifetime.
22. Can I collect Social Security and unemployment compensation at the same time?
Yes. Unemployment benefits aren't counted as wages under Social Security's annual earnings test, so you'd still receive your benefit. However, the amount of your unemployment benefit could be cut if you receive a pension or other retirement income, including Social Security and railroad retirement benefits. Contact your state unemployment office for information on whether your state applies a reduction.
23. I am 63 and collecting Social Security. If I work, will my benefit be cut?
It depends on your income. Between age 62 and the start of the year when you reach full retirement age, $1 in benefits is withheld for every $2 you earn above a limit, which is $14,160 in 2010. In the year you reach full retirement age, $1 is withheld for every $3 above another limit, $37,680 in 2010. In your birthday month, the limits go away — and your benefit will be recalculated upward to compensate for the money that was withheld.
24. I'm 50. Will Social Security be there when I retire?
The Social Security trust fund, where accumulated assets are held, currently contains about $2.5 trillion. According to the system's board of trustees, that money and continuing tax contributions will allow payment of all benefits at current rates until 2037. After that, there still will be enough tax revenue coming in to pay about 78 percent of benefits. Congress is being urged to make financial fixes to Social Security to ensure it will be there for you.
25. I know I can start collecting Social Security at age 62. But should I?
That depends. If you're healthy and can afford it, you should consider waiting until you reach your full retirement age of 66, or even 70. Here's why.
By law, the age when workers can qualify for full benefits is gradually increasing, from 65 to 67. (It will be 67 for anyone born after 1960.) If you claim benefits before reaching full retirement age, they'll be reduced. That's because the goal set by Congress is to pay the same lifetime benefits to an individual regardless of when they're initially claimed.
So let's say you claim benefits at age 62 and get $1,000 a month. If you can wait until you're 66, you'll get at least 33 percent more ($1,333). And if you can wait until you're 70, you'll get at least 75 percent more ($1,750).
Social Security determines the amount of your benefits based, in part, on your highest 35 years of earnings. So you may get a larger monthly benefit if your extra years of work are your top earning years.
Stan Hinden is a retired Washington Post financial writer and author of How to Retire Happy: The 12 Most Important Decisions You Must Make Before You Retire.
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Where
AARP StandsOur Fight: Keeping Social Security StrongSocial Security didn't cause the current deficit, so it shouldn't be used to fix it. Join other AARP members in saying: “Don't target Social Security for unfair benefit cuts.” read
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Please wait while we perform your request.Reply You voted Abuse Reported Report Abuse Score: 0 Name withheld Carola5920 4:35 PM on 2/26/2011
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regarding AARPs statemnt. SS will only continue to mrecalculate a new amount each Dec up to your 70th B day. After that, there are no more increases.
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Please wait while we perform your request. Score: 0 Name withheld 7:38 AM on 2/26/2011
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Please wait while we perform your request.Reply You voted Abuse Reported Report Abuse Score: -1 Name withheld CEgg1939 10:11 PM on 2/25/2011
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Regarding AARP's statement:
17. I began drawing Social Security at age 62 in 2006, but I'm still working. Since I'm still paying Social Security taxes, will my benefits increase?
If your latest work years are among your highest-earning years, the SSA refigures your benefit and pays you any increase due. This is automatic, with new benefits starting in December of the following year.
Well, that is my case. I continue to work yearly, age 71, making more per year than I did in the 35 years previous. Still, for the last 2+ years, Social Security has not adjusted my monthly check. I called them twice -- same answer -- it will be adjusted in December, but it never is. Has anyone else had this problem??? Is there any recourse to this???
Thanks. Charles
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Confused about when to claim or whether you're eligible for benefits? We have answers
by: Stan Hinden | from: AARP Bulletin | December 1, 2010
EnlargePrintComments (359)ShareRecommend (192) En español | Here are the most frequently asked questions about Social Security that AARP has received from you.
1. I am about to turn 62 and plan to file for Social Security. How do I get started?
You should apply three months before you want to start collecting. Sign up online or call 1-800-772-1213. Here are some documents you may have to produce: your Social Security card or a record of the number; your birth certificate; proof of U.S. citizenship or lawful alien status; military discharge papers if you served before 1968; and last year's W-2 tax form or tax return if you're self-employed.
•Social Security: It's not just for the retired. Read
•Social Security benefits for a former spouse. Read
•10 things You should know about Social Security. Read
•Send your questions to the Social Security mailbox. Do
2. How is my Social Security benefit calculated?
Benefits are based on the amount of money you earned during your lifetime – with an emphasis on the 35 years in which you earned the most. Plus, lower-paid workers get a bigger percentage of their preretirement income than higher-paid workers. In 2010, the average monthly benefit for retirees is $1,172.
3. If I remarry, can I still collect Social Security benefits based on my deceased first husband's record?
You can — subject to several rules. In general, you cannot receive survivor benefits if you remarry before age 60 unless that marriage ends, too, whether by annulment, divorce or death of your new husband. If you remarry after age 60 (50 if disabled), you can still collect benefits on your former spouse's record. After you reach 62, you may get retirement benefits on the record of your new spouse if they are higher.
4. Why won't retirees get a cost-of-living adjustment for 2011? Many of us count on this for food, medicine and other bills.
COLAs are based on the consumer price index, which tracks inflation. Because inflation has been flat, according to the CPI, there will be no benefit increase — for the second year in a row. AARP is calling on Congress to provide beneficiaries with financial relief.
5. I am 56 and receive Social Security disability benefits. At what point will I switch to regular Social Security? Will the monthly amount change?
When you reach full retirement age, your disability benefits will automatically convert to retirement benefits. The amount will remain the same.
What if someone dies before they've applied for benefits?>>
6. My friend died at 66. She worked full time and had not applied for benefits. What happens to the money she contributed to Social Security? Can her children claim benefits?
The money people contribute goes into a fund from which benefits are paid to eligible workers and their families. These include a widower, a surviving divorced husband, dependent parents, disabled children, and children if they have not aged out.
7. My husband and I are getting a divorce. He wants the settlement agreement to say I will not get his Social Security benefits. Can he do that?
No, he has no control over your future benefits. You can qualify for a divorced spouse's benefits if you were married at least 10 years, are now unmarried, are 62 or older, and if any benefit from your own work record would be less than the divorced spouse's benefit.
8. Cleaning out my mother's home after her death, we found Social Security checks from the 1980s. Can we cash them?
No. The checks are negotiable for only 12 months after issue.
9. My man and I have lived together for over seven years. If he dies, can I collect his Social Security benefits?
If your state recognizes your common-law marriage, then you'll likely be eligible for survivor benefits. But you'll have to provide evidence that includes sworn statements, mortgage or rent receipts, or insurance policies.
10. Do my Social Security contributions go into a personal retirement account for me and earn interest?
Although many people think so, the answer is no. Social Security operates under a pay-as-you-go system, which means that today's workers pay for current retirees and other beneficiaries. Workers pay 6.2 percent of their wages up to a cap of $106,800; employers pay the same. The money that younger people contribute will pay for our benefits when we retire.
Will the U.S. government repay the Social Security trust fund?>>
11. How much money does the U.S. government owe to the Social Security trust fund, and will it be repaid?
To prepare for the boomers' retirement, Social Security has collected more in taxes than it pays in benefits. Surplus funds go into the trust fund and are invested in U.S.-guaranteed Treasury bonds. In 2009, the trust fund held $2.5 trillion in bonds and earned 4.9 percent in interest. These bonds are just as real as U.S. Treasury bonds held by mutual funds or foreign banks. Ultimately, it's up to the American people to ensure the government keeps its promise to retirees, just as it would to other investors.
12. I have a pension from the Army. Will that affect my Social Security benefits?
It will not. You can get both your Social Security benefits and your military pension. If you served in the military before 1957, you did not pay Social Security taxes, but you will receive special credit for some of that service. Special credits also are available to people who served from 1957 to 1967 and from 1968 to 2001.
13. I didn't work enough to qualify for Social Security. My husband gets it, but he is ill and may not live much longer. Will I be able to collect benefits?
Yes, but your benefit will depend on your age and situation: If you are at full retirement age or older, you'll get 100 percent of your deceased husband's benefit. A widow or widower between 60 and full retirement age receives a reduced benefit.
14. Is it true that some people are collecting Social Security benefits who never paid into the system?
Social Security is an earned benefit. In order to collect a retirement benefit, a worker must pay into the system for at least 10 years. In some cases, nonworking family members, such as a spouse, may be eligible for benefits based on the worker's record. Tough rules in place assure that only legal residents can collect Social Security benefits.
15. I filed for Chapter 13 bankruptcy after being laid off. Do Social Security benefits count as income in bankruptcy, or are they protected?
Your benefits are protected. Social Security is excluded from the calculation of disposable income when setting up a debtor repayment plan.
What you should know about your benefits if your spouse dies. >>
16. My husband died recently. Can I choose between my own benefit and that as a widow? Can I collect both?
Eligibility for a widow's benefit begins at age 60, or 50 if you are disabled. If you are full retirement age, your survivor benefit will be 100 percent of his benefit; if you take it early, the amount will be reduced. You can switch to your own benefit as early as 62. In any event, you can only get one benefit, whichever is higher.
17. I began drawing Social Security at age 62 in 2006, but I'm still working. Since I'm still paying Social Security taxes, will my benefits increase?
If your latest work years are among your highest-earning years, the SSA refigures your benefit and pays you any increase due. This is automatic, with new benefits starting in December of the following year.
18. My wife is 62 and collects Social Security based on her own work record. Can she receive spousal benefits based on my record when I retire in a few years?
If she is eligible for both benefits, yours and hers, Social Security will pay her own benefits first. If she is due additional benefits, she will get a combination of benefits equaling the higher spousal benefit.
19. Why would changes in Social Security be considered as a way to help balance the federal budget?
Some policymakers say all spending, including Social Security, should be cut. Social Security has not contributed to the deficit. In fact, the trust fund is projected to reach $4.3 trillion by 2023. AARP believes that Social Security benefits should not be targeted to reduce the deficit.
20. If I retire to a foreign country, can I have my Social Security benefits sent there?
If you are a U.S. citizen, you may receive your benefits in most foreign countries, usually by check or direct deposit. If you are not a U.S. citizen, the answer is more complicated, with certain rules applying to certain countries. For specifics, see the Social Security publication "Your Payments While You Are Outside the United States."
Can I pay back my benefits to receive a higher payment?>>
21. I started collecting Social Security at 62. I heard that if I changed my mind, I could pay back the amount I'd collected and get a higher payment. Is that possible?
That used to be true, but the Social Security Administration just published new regulations that curtail this option. Now, if you want to suspend your benefits, you must do so within 12 months after first receiving them. According to Social Security, 85 to 90 percent of beneficiaries who withdraw their applications do so within this time frame anyway. The new rules, which became effective Dec. 8, also specify that beneficiaries are limited to one refiling in a lifetime.
22. Can I collect Social Security and unemployment compensation at the same time?
Yes. Unemployment benefits aren't counted as wages under Social Security's annual earnings test, so you'd still receive your benefit. However, the amount of your unemployment benefit could be cut if you receive a pension or other retirement income, including Social Security and railroad retirement benefits. Contact your state unemployment office for information on whether your state applies a reduction.
23. I am 63 and collecting Social Security. If I work, will my benefit be cut?
It depends on your income. Between age 62 and the start of the year when you reach full retirement age, $1 in benefits is withheld for every $2 you earn above a limit, which is $14,160 in 2010. In the year you reach full retirement age, $1 is withheld for every $3 above another limit, $37,680 in 2010. In your birthday month, the limits go away — and your benefit will be recalculated upward to compensate for the money that was withheld.
24. I'm 50. Will Social Security be there when I retire?
The Social Security trust fund, where accumulated assets are held, currently contains about $2.5 trillion. According to the system's board of trustees, that money and continuing tax contributions will allow payment of all benefits at current rates until 2037. After that, there still will be enough tax revenue coming in to pay about 78 percent of benefits. Congress is being urged to make financial fixes to Social Security to ensure it will be there for you.
25. I know I can start collecting Social Security at age 62. But should I?
That depends. If you're healthy and can afford it, you should consider waiting until you reach your full retirement age of 66, or even 70. Here's why.
By law, the age when workers can qualify for full benefits is gradually increasing, from 65 to 67. (It will be 67 for anyone born after 1960.) If you claim benefits before reaching full retirement age, they'll be reduced. That's because the goal set by Congress is to pay the same lifetime benefits to an individual regardless of when they're initially claimed.
So let's say you claim benefits at age 62 and get $1,000 a month. If you can wait until you're 66, you'll get at least 33 percent more ($1,333). And if you can wait until you're 70, you'll get at least 75 percent more ($1,750).
Social Security determines the amount of your benefits based, in part, on your highest 35 years of earnings. So you may get a larger monthly benefit if your extra years of work are your top earning years.
Stan Hinden is a retired Washington Post financial writer and author of How to Retire Happy: The 12 Most Important Decisions You Must Make Before You Retire.
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Where
AARP StandsOur Fight: Keeping Social Security StrongSocial Security didn't cause the current deficit, so it shouldn't be used to fix it. Join other AARP members in saying: “Don't target Social Security for unfair benefit cuts.” read
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Please wait while we perform your request.Reply You voted Abuse Reported Report Abuse Score: 0 Name withheld Carola5920 4:35 PM on 2/26/2011
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regarding AARPs statemnt. SS will only continue to mrecalculate a new amount each Dec up to your 70th B day. After that, there are no more increases.
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Please wait while we perform your request. Score: 0 Name withheld 7:38 AM on 2/26/2011
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Please wait while we perform your request.Reply You voted Abuse Reported Report Abuse Score: -1 Name withheld CEgg1939 10:11 PM on 2/25/2011
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Regarding AARP's statement:
17. I began drawing Social Security at age 62 in 2006, but I'm still working. Since I'm still paying Social Security taxes, will my benefits increase?
If your latest work years are among your highest-earning years, the SSA refigures your benefit and pays you any increase due. This is automatic, with new benefits starting in December of the following year.
Well, that is my case. I continue to work yearly, age 71, making more per year than I did in the 35 years previous. Still, for the last 2+ years, Social Security has not adjusted my monthly check. I called them twice -- same answer -- it will be adjusted in December, but it never is. Has anyone else had this problem??? Is there any recourse to this???
Thanks. Charles
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today's
tax tipDon't be a 'hoarder.' Some documents can be thrown out.
• Get more tax tips.
• Download federal tax forms.
• Download state tax forms.
Services & DiscountsThe new AARP® | Financial Guidance Services provided by Charles Schwab Co, Inc. offers insight to help make decisions at every stage of life.
MedjetAssist offers AARP members discounts of up to 18% off memberships for hospital of choice medical transfer, if they are hospitalized 150 miles or more from their home.
AARP members receive 20% discount on all flower arrangements from Teleflora.
Members receive exclusive member benefits & effect social change. Join Today
See All »
Featured
GroupsThe Water CoolerExpand your job network, find new leads and share tips for getting ahead. Discuss
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See all work groups »
Money NewsletterFind budget-friendly tips, investment advice, scam alerts and more!
Subscribe
VideosExpertsBlogToolsNewsstandMobileRSSFacebookTwitterShareAbout AARPWe are a nonprofit, nonpartisan membership organization that helps people 50 and over improve the quality of their lives.
About Us
Contact Us
Our Events
Careers
En Español
AARP Foundation
AARP International
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PROGRAMSAARP Tax-Aide
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Where AARP StandsPolicy
Obama and Congress must work together to find responsible budget solutions. read
Research
Winter Heating Costs in Age 65+ Households by Income. read
Take Action
Our Fight: Keeping Social Security Strong. do
AARP in Your State See another state Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virgin Islands Virginia Washington West Virginia Wisconsin Wyoming
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News From: Massachusetts2011-01-27
New books cover the nuts and bolts and back stories of health .... Read
Sitemap | Privacy Policy | Terms of Service | Copyright Information
Copyright 1995-2011, AARP. All rights reserved. A Member of AARP Global Network
Friday, February 18, 2011
social security poll
Raise the retirement age 12.79%
Eliminate the salary cap 50.87%
Increase the payroll tax 12.1%
Reduce benefits for future retirees 1.81%
None of the above 22.43%
Return To Poll
Eliminate the salary cap 50.87%
Increase the payroll tax 12.1%
Reduce benefits for future retirees 1.81%
None of the above 22.43%
Return To Poll
Thursday, February 17, 2011
SOCIAL sECURITY CHECKS
Paper checks retired. Retirees who apply for Social Security benefits on or after May 1, 2011, will no longer have the option of receiving a paper check in the mail. Seniors can have their entitlement payments directly deposited into a bank or credit union account or loaded onto a prepaid Direct Express Debit MasterCard. "This important change will provide significant savings to American taxpayers who will no longer incur the annual $120 million price tag associated with paper checks and will save Social Security $1 billion over the next 10 years," says Richard Gregg, Treasury Fiscal Assistant Secretary. Retirees already receiving paper checks will need to switch to direct deposit or the prepaid debit card by March 1, 2013.
Wednesday, February 9, 2011
MAINTAINING SOCIAL SECURITY
“Social Security is not in that bad of shape and this has been consistent for a long time now.”
Social Security this year will pay its 52.5 million recipients some $41 billion more than it takes in via payroll taxes, which have been eroded by several years of high unemployment rates. The deficit is due in part to an accounting adjustment, but a $7 billion shortfall also is expected in 2011.
The fund that covers retiree and survivor benefits—which were paid to nearly 43 million people by the end of 2009—is running a surplus. But the disability pool, which provided benefits for 9.7 million recipients last year, is on track to exhaust its own assets by 2018. Disability payouts still can be fully covered through 2037, trustees said, if lawmakers allow the retirement and survivor trust funds to be tapped.
In 2018, when the new health care law calls for taxes on “Cadillac” insurance plans, employers are expected to reduce those high-cost health benefits in favor of paying higher wages. The anticipated payroll taxes on that extra income is expected to ease Social Security deficits.
Overall, the Social Security trust fund will continue to grow because of interest income, and payouts won’t begin whittling away at assets until 2025. Under current funding methods, 75 percent of benefits could be paid out through 2084.
Small changes would work
A variety of proposed solutions could prevent benefit cuts, from hiking the retirement age to raising payroll taxes. According to the actuarial figures released today, for example, Social Security retirement, survivor and disability payments could be stabilized for 75 years by adding another 1.92 percent to the existing 12.4 percent payroll tax
“You could easily pull it all together with a few very small changes“They may be changes people don’t like, but they aren’t dramatic and they’d prevent a 25 percent cut in benefits after 2037.”
According to a Gallup poll released in July, 67 percent of Americans surveyed preferred that payroll taxes be applied to all income, instead of just the first $106,800 as it is now
“The trustees confirm that Social Security can pay full benefits for decades, and approximately 75 percent into the future even if nothing is done
Social Security this year will pay its 52.5 million recipients some $41 billion more than it takes in via payroll taxes, which have been eroded by several years of high unemployment rates. The deficit is due in part to an accounting adjustment, but a $7 billion shortfall also is expected in 2011.
The fund that covers retiree and survivor benefits—which were paid to nearly 43 million people by the end of 2009—is running a surplus. But the disability pool, which provided benefits for 9.7 million recipients last year, is on track to exhaust its own assets by 2018. Disability payouts still can be fully covered through 2037, trustees said, if lawmakers allow the retirement and survivor trust funds to be tapped.
In 2018, when the new health care law calls for taxes on “Cadillac” insurance plans, employers are expected to reduce those high-cost health benefits in favor of paying higher wages. The anticipated payroll taxes on that extra income is expected to ease Social Security deficits.
Overall, the Social Security trust fund will continue to grow because of interest income, and payouts won’t begin whittling away at assets until 2025. Under current funding methods, 75 percent of benefits could be paid out through 2084.
Small changes would work
A variety of proposed solutions could prevent benefit cuts, from hiking the retirement age to raising payroll taxes. According to the actuarial figures released today, for example, Social Security retirement, survivor and disability payments could be stabilized for 75 years by adding another 1.92 percent to the existing 12.4 percent payroll tax
“You could easily pull it all together with a few very small changes“They may be changes people don’t like, but they aren’t dramatic and they’d prevent a 25 percent cut in benefits after 2037.”
According to a Gallup poll released in July, 67 percent of Americans surveyed preferred that payroll taxes be applied to all income, instead of just the first $106,800 as it is now
“The trustees confirm that Social Security can pay full benefits for decades, and approximately 75 percent into the future even if nothing is done
Thursday, January 13, 2011
More on no Social Security at 62
By Jennie L. Phipps · Bankrate.com
Monday, December 27
Posted: 4 pm ET
Three months ago, I blogged about a proposal from the American Enterprise Institute, a conservative think tank, to get rid of the option to take Social Security at age 62. Holy cow, the people who thought this was a lousy retirement planning proposal have continued to fill my e-mail inbox with their thoughts.
This note, from a woman who begged to be anonymous, seems to reflect the majority opinion about retirement timing most eloquently:
"I totally disagree with your premise to raise the age of full retirement benefits. I am currently 60 years old. I do not have a retirement account and have a meager pension to collect when I retire. I cannot wait to retire! I am tired, sick and need to step away from the enormous stress of my job. I cannot accomplish this until I am 63 and am terrified that reckless ideas as yours will be enacted.
I cannot work until 66. That is not an option, but I am not sick enough to qualify for disability. I have worked full time -- two and three jobs at a time -- since I was 15 years old. They have collected Social Security from every one of those paychecks, an amount I doubt I will ever fully collect.
You might wonder why I am not better prepared for my retirement. I was a single mother, I raised a wonderful son, kept a roof over our heads and never, ever relied on public assistance. There were too many weeks we had to decide if we would buy groceries or pay bills. (I am sure you have no concept of this lifestyle). I don't regret those years, just wish there had been other options.
Bottom line -- leave Social Security alone. I earned it. I need it."
--
Does anyone see this issue differently?
Related posts:
1.More on fixing Social Security
2.No Social Security until age 65?
3.Social Security cutting do-overs
4.Ex-spouses and Social Security
5.Shoring up Social Security
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320 Comments
Worked Long and HardJanuary 13, 2011 at 9:25 amAs a single parent, I lived with government housing assistance early on, then worked into an excellent position. It was good. Now at 57 I'm exhausted. I had an accident, am now getting disability, but will be honest and come off it as soon as possible, hoping it is, I can't sit all day doing nothing.
I think the government has no right to raise the age at which we can begin getting our SS benefits. Like they say, Government workers are able to retire with pension in the early 50's. Then, they can become consultants for the government.
Normal citizens, if they lose their jobs in today's world, can not find another. Corporations more willing hire the younger workers, they can pay them less. Those of us in our later 50's will not be hired unless it's Walmart who doesn't work anyone full time to avoid benefits. It's becoming the practice in more corporations and companies.
Age discrimination??? They can't ask your age, but if you send a resume, are you going to tell me the employer can not tell the difference in the 30 year old and the 55+ year old? Give me a break. Even on applications they want to know education and dates as well as past employment and dates. Isn't that asking your age.
I could go on and on. Other will pick this up. Thanks.
Lester SmithJanuary 13, 2011 at 9:05 amThe sunnier you let people retire the better, that opens up a job for some younger person with a family to raise. we need to lower the retirement age.
conwaymechJanuary 13, 2011 at 8:36 amTime to think about the country and not yourself. I have numerous family members on disablility. They are all lazy slobs milking the system and looking for any opportunity to sue someone or the governement. I am 62 in march, vn marine and have worked since I was a young child. I used up most of my body but I can still support myself and others because I had the advantage of a mother that lived the true life "Grapes of Wrath" and I promised her that I would never retire but always work as much as I could. God willing I will never have to lower myself to taking anything from a government I detest run by people I consider detestable and operated by freeloaders.Like Mom said you can always do something and no work is dishonorable.
Flyers4nJanuary 13, 2011 at 8:29 amI find it amusing that many people expect the reductions in government spending to come from everyone else-not them. I'll bet many of the "Tea Party" people never thought the cuts or changes would mean they would lose benefits or their job if their candidates were elected! The GOP is walking a tightrope. If they fulfill their desire to reduce "Big Government" as they called it during the election, they will surely cost their constituents jobs in the defense industries, eligibility for this early retirement as well as many other unforeseen consequences. If they back down they will feel the wrath of those who are true believers. I love it!
J. WilkinsJanuary 13, 2011 at 8:16 amBack in the early 90's my wife had to retire from the NC school system because of the pain she was receiving in her body after around 30 years since she was a PE teacher.
She started receiving her retirement shortly. In about one year and after taking medical test, she was told she was 100% totally disabled and was eligible for medicare benifits and monthly payments. Thats when NC school system said she couldn't receive both; it was one or the other!!
Anyone have any info on this and is this right?!
danJanuary 13, 2011 at 12:51 amCongress stole all the money paid in, replaced it with iou's, and spent it on earmarks and buying votes since Johnson...and now they want to change the system to have people pay in longer at higher percents and not collect till a later age.. Politicians at their best.....and you keep voting the SAME lying ,bloodsuckers back into office...you will finally learn when you have nothing and they have it all...the hired help has better retirement and health care then the ones who pay the freight..WHAT A COUNTRY WE HAVE CREATED....NOT THE FOUNDERS........ REPUBLIC
EdJanuary 13, 2011 at 12:18 amMost who want to "reform" or privatize social security are more well off then those who don't. Rightfully,they paid more into it, and want more from it. However, not everyone is fortunate enough to be healthy, wealthy and wise...that is what SS was meant for...I suggest people see a 1933 picture called "Plan for the future"...it explains just why SS was enacted in the most direct way and is applicable to the times we live in now. We are the richest country in the world, and supposedly the most religious, but a history judges a society on how it treats the least of its citizens. Lets get away from ideology and fix the mess so that lower-income elderly who have paid into the system, and sick can live in dignity; and those who aspire for something more and are able to work for it, can enjoy that benefit too. Its possible if lose the labels, and also consider the meaning of empathy and moral responsibility. America is better than "I want what's mine".
J William CollierJanuary 12, 2011 at 11:21 pmBecause of age discrimination in the job market a lot of people are forced retire at 62...
SteveJanuary 12, 2011 at 11:08 pmIf I can retire at 62 than I will. Yes, my full benefit is cut, but at least I can have a few good years of retirement before my health starts to decline. For those who want to work till they are 70 then go ahead! I look forward to getting out of the corporate world.
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Monday, December 27
Posted: 4 pm ET
Three months ago, I blogged about a proposal from the American Enterprise Institute, a conservative think tank, to get rid of the option to take Social Security at age 62. Holy cow, the people who thought this was a lousy retirement planning proposal have continued to fill my e-mail inbox with their thoughts.
This note, from a woman who begged to be anonymous, seems to reflect the majority opinion about retirement timing most eloquently:
"I totally disagree with your premise to raise the age of full retirement benefits. I am currently 60 years old. I do not have a retirement account and have a meager pension to collect when I retire. I cannot wait to retire! I am tired, sick and need to step away from the enormous stress of my job. I cannot accomplish this until I am 63 and am terrified that reckless ideas as yours will be enacted.
I cannot work until 66. That is not an option, but I am not sick enough to qualify for disability. I have worked full time -- two and three jobs at a time -- since I was 15 years old. They have collected Social Security from every one of those paychecks, an amount I doubt I will ever fully collect.
You might wonder why I am not better prepared for my retirement. I was a single mother, I raised a wonderful son, kept a roof over our heads and never, ever relied on public assistance. There were too many weeks we had to decide if we would buy groceries or pay bills. (I am sure you have no concept of this lifestyle). I don't regret those years, just wish there had been other options.
Bottom line -- leave Social Security alone. I earned it. I need it."
--
Does anyone see this issue differently?
Related posts:
1.More on fixing Social Security
2.No Social Security until age 65?
3.Social Security cutting do-overs
4.Ex-spouses and Social Security
5.Shoring up Social Security
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320 Comments
Worked Long and HardJanuary 13, 2011 at 9:25 amAs a single parent, I lived with government housing assistance early on, then worked into an excellent position. It was good. Now at 57 I'm exhausted. I had an accident, am now getting disability, but will be honest and come off it as soon as possible, hoping it is, I can't sit all day doing nothing.
I think the government has no right to raise the age at which we can begin getting our SS benefits. Like they say, Government workers are able to retire with pension in the early 50's. Then, they can become consultants for the government.
Normal citizens, if they lose their jobs in today's world, can not find another. Corporations more willing hire the younger workers, they can pay them less. Those of us in our later 50's will not be hired unless it's Walmart who doesn't work anyone full time to avoid benefits. It's becoming the practice in more corporations and companies.
Age discrimination??? They can't ask your age, but if you send a resume, are you going to tell me the employer can not tell the difference in the 30 year old and the 55+ year old? Give me a break. Even on applications they want to know education and dates as well as past employment and dates. Isn't that asking your age.
I could go on and on. Other will pick this up. Thanks.
Lester SmithJanuary 13, 2011 at 9:05 amThe sunnier you let people retire the better, that opens up a job for some younger person with a family to raise. we need to lower the retirement age.
conwaymechJanuary 13, 2011 at 8:36 amTime to think about the country and not yourself. I have numerous family members on disablility. They are all lazy slobs milking the system and looking for any opportunity to sue someone or the governement. I am 62 in march, vn marine and have worked since I was a young child. I used up most of my body but I can still support myself and others because I had the advantage of a mother that lived the true life "Grapes of Wrath" and I promised her that I would never retire but always work as much as I could. God willing I will never have to lower myself to taking anything from a government I detest run by people I consider detestable and operated by freeloaders.Like Mom said you can always do something and no work is dishonorable.
Flyers4nJanuary 13, 2011 at 8:29 amI find it amusing that many people expect the reductions in government spending to come from everyone else-not them. I'll bet many of the "Tea Party" people never thought the cuts or changes would mean they would lose benefits or their job if their candidates were elected! The GOP is walking a tightrope. If they fulfill their desire to reduce "Big Government" as they called it during the election, they will surely cost their constituents jobs in the defense industries, eligibility for this early retirement as well as many other unforeseen consequences. If they back down they will feel the wrath of those who are true believers. I love it!
J. WilkinsJanuary 13, 2011 at 8:16 amBack in the early 90's my wife had to retire from the NC school system because of the pain she was receiving in her body after around 30 years since she was a PE teacher.
She started receiving her retirement shortly. In about one year and after taking medical test, she was told she was 100% totally disabled and was eligible for medicare benifits and monthly payments. Thats when NC school system said she couldn't receive both; it was one or the other!!
Anyone have any info on this and is this right?!
danJanuary 13, 2011 at 12:51 amCongress stole all the money paid in, replaced it with iou's, and spent it on earmarks and buying votes since Johnson...and now they want to change the system to have people pay in longer at higher percents and not collect till a later age.. Politicians at their best.....and you keep voting the SAME lying ,bloodsuckers back into office...you will finally learn when you have nothing and they have it all...the hired help has better retirement and health care then the ones who pay the freight..WHAT A COUNTRY WE HAVE CREATED....NOT THE FOUNDERS........ REPUBLIC
EdJanuary 13, 2011 at 12:18 amMost who want to "reform" or privatize social security are more well off then those who don't. Rightfully,they paid more into it, and want more from it. However, not everyone is fortunate enough to be healthy, wealthy and wise...that is what SS was meant for...I suggest people see a 1933 picture called "Plan for the future"...it explains just why SS was enacted in the most direct way and is applicable to the times we live in now. We are the richest country in the world, and supposedly the most religious, but a history judges a society on how it treats the least of its citizens. Lets get away from ideology and fix the mess so that lower-income elderly who have paid into the system, and sick can live in dignity; and those who aspire for something more and are able to work for it, can enjoy that benefit too. Its possible if lose the labels, and also consider the meaning of empathy and moral responsibility. America is better than "I want what's mine".
J William CollierJanuary 12, 2011 at 11:21 pmBecause of age discrimination in the job market a lot of people are forced retire at 62...
SteveJanuary 12, 2011 at 11:08 pmIf I can retire at 62 than I will. Yes, my full benefit is cut, but at least I can have a few good years of retirement before my health starts to decline. For those who want to work till they are 70 then go ahead! I look forward to getting out of the corporate world.
« Older CommentsAdd a comment
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